Ant Financial Defends MoneyGram Acquisition By Going Offensive On Rival Euronet

Ant Financial Services Group issued a long statement today defending its US$880 million deal to acquire U.S. money transfer company MoneyGram International Inc., after American payment firm Euronet Worldwide Inc. made a higher offer last month.

"In the four weeks since launching a hostile bid to break up Ant Financial's agreed-upon merger with MoneyGram, Euronet has conducted broad-based political attacks in Washington against Ant Financial Services Group and the integrity of MoneyGram's business and data security practices in an attempt to stop a compelling transaction involving a core competitor," Doug Feagin, president of Ant Financial International, said in a statement.

It appears that the Chinese Internet financial services giant does not plan to increase its price, and is trying everything it can to complete the transaction without ha...

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